@BOMBERuss 22 May 2022 more from that month

Results of the week: 1.Peter Schiff predicted the $8000 #Bitcoin test! Gold supporter and critic of the first cryptocurrency Peter Schiff said that the price of bitcoin will test the lower limit of the corridor around the $8000 mark. He came to this conclusion based on technical analysis. At the same time, Glassnode analysts noted that against the background of the collapse of #UST, #BTC quotes approached the level of a fair price. 2.Do Kwon offered to conduct a #Terra hard fork! The head of Terraform Labs, Do Kwon, proposed to conduct a Terra hard fork with the advent of a new network and airdrop. He called it "a chance to revive the project from the ashes." It is assumed that the new network will retain the name Terra with the #LUNA token. The initial blockchain will become Terra Classic with Luna Classic (#LUNC) respectively. The project will continue to develop without a new algorithmic stablecoin. The total issue of LUNA will amount to 1 billion tokens, the target reward for staking (inflation) is 7%. The vote on Kwon's proposal was launched on May 18, it will last until May 25. The majority of community members did not support the idea of a hard fork in the preliminary vote. However, in the main process, the proposal has already passed the quorum threshold. 3.The media reported on the investigation of the collapse of Terra in South Korea. South #Korean authorities have recreated an interagency group, disbanded more than two years ago, to investigate the collapse of Terra. Previously, the team was nicknamed the "Grim Reapers". The media also reported on potential parliamentary hearings with the participation of Kwon regarding the collapse of the project ecosystem. 4.How did the community react to the collapse of Terra: #Ethereum founder Vitalik #Buterin called on Terraform Labs to focus on compensating small investors LUNA and UST. According to him, "rich" people are able to bear personal responsibility. It is not completely clear how exactly it is possible to make a refund of the lost funds. This week, the non-profit organization Luna Foundation Guard revealed that it had emptied its reserve fund by $ 3 billion. The funds were spent on attempts to maintain the stability of UST. Billionaire CEO and founder of Pershing Square Capital Management Bill Ackman called Terra a #cryptopyramid, and Tether tech director Paolo Ardoino said that the product is "poorly designed." The silence was also broken by the founder of the Galaxy Digital #cryptocurrency bank Mike Novogratz. His structure became one of the main investors of Terraform Labs, and the billionaire himself got a tattoo on his left arm with a reference to LUNA. Novogratz admitted that the collapse of the Terra ecosystem undermined confidence in the DeFi sector and the cryptocurrency market as a whole, although the idea of creating an algorithmic stablecoin looked promising. The impact of the incident on the digital asset industry was also noted by Forbes journalists. In their opinion, the collapse of the project in its impact on the industry is not inferior to the bankruptcy of Mt.Gox, the hacking of The #DAO, the explosion of the ICO bubble and the collapse of the crypto market in March 2020. 5.Whales revealed losses due to the collapse of UST and LUNA. The head of #Binance, Changpeng Zhao, revealed the company's investments in the Terra ecosystem and noted that at the time of the collapse, the #exchange owned 15 million LUNA, which are now practically devalued. The collapse of Terra cost the blockchain company Hashed $3.5 billion in losses. Against the background of the incident, the investment research firm Delphi Digital could also lose up to 13% of its assets - this was the equivalent of the peak value of the acquired LUNA tokens. The founder of the #Avalanche project, Emin Gun Sirer, said that the non-profit organization Avalanche Foundation lost $60 million that it invested in Terra. However, not all Terra investors lost money. Pantera Capital reported that the company with a large profit cashed out about 80% of investments in the ecosystem of the project. 6.The DEI stablecoin from Deus Finance DAO has lost its binding to the dollar UST is not the only algorithmic stablecoin that has lost parity against the US dollar. On May 15, the price of DEI from the #Deus Finance DAO project fell to around $0.51. The incident coincided with the publication of a proposal to launch a debt token program with a fixed interest rate from DEUS Treasury. 7.Tether reduced #USDT Collateral in Commercial Securities by 17% In the first quarter of 2022, the issuer of the USDT stablecoin — Tether Holdings Limited — reduced reserves in commercial securities by 17%. By the end of the second quarter, the company intends to reduce the amount of collateral in these assets by another 20%. 8.Accounting firm MHA Cayman, which conducted the audit, confirmed that the company's reserves exceed the amount required for the full repayment of USDT. 9.The #Aurora team will conduct an airdrop of the native token and launch a new platform The developers of the protocol of the second level of the #NEAR network — Aurora — announced the launch of the Aurora+ platform with native token staking. It will be distributed during the airdrop among users who register in the service during the first week. 10.The State Duma of the Russian Federation adopted in the first reading a bill on taxes on digital assets The State Duma supported in the first reading the bill on taxation of transactions with digital financial assets (CFA). The document establishes the specifics of VAT taxation of operations on the sale of #CFA, corporate income tax and personal income tax on profits from the sale of digital assets. This week, the Ministry of Internal Affairs of the Russian Federation also agreed on the revised draft laws "On Digital Currency" and "On Amendments to Certain legislative acts of the Russian Federation in connection with the adoption of the federal law "On Digital Currency"." At the end of the week, the State Duma introduced a draft law on amendments to the Civil Code that enshrine the concept of #NFT. 11.Robinhood will launch a non-custodial crypto wallet, and Revolut will issue its own token Online broker #Robinhood has announced the creation of a non-custodial #Web3 wallet, which will provide users with full control over the cryptocurrency and direct access to the #DeFi and NFT segments. 12.The founder of #Revolut, Nikolai Sidonsky, announced plans for neobank to issue its own digital token as part of the development of a customer loyalty program. 13.Ethereum developers called the timing of the transition to the Proof-of-Stake algorithm The planned transition of Ethereum to the Proof-of-Stake (#PoS) consensus algorithm will take place in August, said one of the leading developers Preston Van Loon. According to him, the team expects to complete the process, which is called "The Merge", before activating the "complexity bomb". Earlier, Ethereum developers said that on June 8, 2022, the project team will transfer the Ropsten test network to the PoS algorithm. 14.WSJ journalists told about the signs of insider trading on the crypto market. 15.The ex-head of #BitMEX, Arthur Hayes, was sentenced to two years probation. 16.Bill #Gates explained the absence of cryptocurrencies in his investment portfolio. 17.The #Litecoin network has activated the #MimbleWimble update. Top Crypto Gainers And Losers (WEEK):